Breeze Holdings Acquisition Corp. (OTCQX:BRZH), a special purpose acquisition company, announced Monday that its stockholders approved an extension of the deadline to complete a business combination. The extension, set during a Special Meeting held on December 23, moves the deadline from December 26, 2024, to as late as June 26, 2025.
The meeting saw a turnout of 79.4% of eligible shares, with 3,202,414 shares of common stock voting on the proposals. The stockholders voted in favor of amending the company's certificate of incorporation and the Investment Management Trust Agreement to facilitate the extension.
In conjunction with the extension, 621,609 shares were redeemed, leaving 3,412,103 shares outstanding, of which 272,103 are public shares. Public stockholders retain the option to redeem their shares for cash upon completion of the initial business combination, based on the amount in the trust account two business days prior to the approval of the combination.
Following the redemptions, approximately $3.2 million remains in the trust account. The company emphasized that if a business combination is not completed by the new deadline, it will liquidate and redeem outstanding public shares at a price based on the trust account balance, less certain permissible deductions.
The extension provides Breeze Holdings additional time to identify and complete an initial business combination. The company has not disclosed any specific targets or industries for this potential transaction.
This news is based on a press release statement and reflects the latest developments in Breeze Holdings Acquisition Corp.'s efforts to finalize a business combination.
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